'A nice addition': Wheeling approves $2 million incentive for new shopping center

Wheeling will give a real estate developer more than $2 million to build a small shopping center on Dundee Road.

The village board on Monday unanimously approved the financial incentive for the company behind the proposed London Crossing complex.

The center, which has a nearly $11 million projected price tag, will be built on vacant land between Elmhurst Road and the recently built Wheeling Township Elementary District 21 headquarters.

As proposed, the center will contain an 18,900-square-foot building for multiple tenants and a separate 2,100-square-foot building that will be designed for a restaurant.

Chris Coleman, vice president of development for the Wingspan Development Group, told trustees on Monday that his company primarily is seeking food- and beverage-service businesses for the center.

Coleman didn't identify any possible tenants - but he gave a hint about one.

"We're in very long discussions with a ... provider of hot beverages that you drink in the morning," Coleman said, eliciting chuckles from some board members. "We'll see if we can get those guys across the finish line."

The free-standing building and one end unit in the larger structure will have windows for drive-through service, Coleman said.

Although Wingspan is developing the center, the incentive agreement is with an Arizona-based limited liability company called Thompson Peak 4.

Under the deal, the developer will incrementally get $2.225 million from a special village property tax account. As the value of the site rises once the shopping center is built, so will the property taxes the development generates.

Construction will begin by Dec. 31, 2024, depending on the needs of the tenants, Coleman said Monday. Work on the free-standing building will begin first, he said.

Trustee Ray Lang said he's looking forward to the center being built.

"It'll be a nice addition," he said.